Russia and China are preparing to implement more than 80 joint projects with a total value of approximately $200 billion across a wide range of sectors.
The announcement was made by Russian Ambassador to China Igor Morgoulov on Friday during the opening of the 10th “Russia and China: Cooperation in a New Era” conference in Beijing. The event is organized by the Russian International Affairs Council in collaboration with the Chinese Academy of Social Sciences.
Ambassador Morgoulov noted that China has remained Russia’s top trading partner for the past 15 years, while Russia ranks fifth among China’s trade partners. In 2024, bilateral trade reached a new record of $245 billion.
“We are taking coordinated steps to boost the use of national currencies in international transactions and actively developing investment cooperation,” Morgoulov said. “We have more than 80 joint projects in industrial production, transportation, logistics, agriculture, and mining, with a total value close to $200 billion.”
He also expressed hope that the updated intergovernmental agreement on mutual investment protection, signed in May, would further stimulate investment growth between the two nations.
A Strategic Cooperation Platform
The conference was first held in 2015 and became an annual event following the signing of a memorandum of understanding between the Russian International Affairs Council and the Chinese Academy of Social Sciences during President Vladimir Putin’s visit to China.
The event is supported by the foreign ministries of both countries, along with several other ministries and relevant institutions. The 2019 edition, held in Moscow, was the largest to date, lasting three days and bringing together more than 300 participants from government, business, and academic sectors.
A Decade of Dialogue
This year’s conference is taking place in Beijing to mark its 10th anniversary. It also coincides with the 80th anniversary of the end of World War II and the founding of the United Nations, lending a special significance to the occasion.
